Married College Grads Earn More than Singles According to Pew Research Center
Posted on April 22, 2010 by Jennifer Brady
Here’s a finding that is apt to get single and married men and women talking: If you want a better chance of creating household wealth, earn a college degree — and get married.
That’s the opening sentence in a somewhat recent story by Washington Post columnist Michelle Singletary. The focus of her column is a Pew Research Center report that examined economic gains over the past four decades among U.S.-born men and women ages 30 to 44.
The societal, cultural, financial, and marital implications are pretty heavy and Ms. Singletary touches on many, including whether or not, and why, more household financial decisions are made by the top earner in the family. If you have views about these issues and want to share them here, please do. But for now, here are the plain, raw, financial facts:
In adjusted numbers, unmarried men earned $56,951 annually on average in 1970, increasing to $65,849 in 2007. Unmarried women in 2007 earned $30,597, increasing to $48,738 in 2007.
Now let’s compare that with married men and women. Married men earned $45,785 in 1970. Nearly four decades later, their income rose to an average $73,774. For married women, average income went from $46,669 to $74,642.
The full column and complete discussion of what all this means is here.
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Fascinating numbers, and quite honestly something that I wouldn’t have personally thought to research! The numbers in an of themselves do pose quite and interesting question: why? What is different in our socioeconomic and sociopolitical environment these days that makes married people earn more?